The question is asking to journalize the transactions but all throughout this chapter, this is my weakest area on how to journalize transactions especially when it comes to when a discount was applied or items were returned. I'm just not getting it. Can you help me please? Thanks
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[email protected]+ ← → C â https://v2.cengagenow.com/rn/takeAssignment takeAssignmentMain doinvoker-assignments&takeAssignmentSessionLocator-assignment take&in. Ch 6-3 Exercises & Problems eBook Show Me Hovw Calculator Print Itemm Sales-related and purchase-related transactions using perpetual inventory_system Instructions Chart of Accounts Journal Instructions The following were selected from among the transactions completed by Babcock Company during November of the current year Nov 3 Purchased merchandise on account from Moonlight Co., list price $88,000, trade discount 20%, terms FOB destination, 2/10, n/30 Sold merchandise for cash, $41,250. The cost of the merchandise sold was $22,250 Purchased merchandise on account from Papoose Creek Co., $43,700, terms FOB shipping point, 2/10, n/30, with prepaid freight of $840 added to the invoice Returned $13,600 ($17,000 list price less trade discount of 20%) of merchandise purchased on November 3 from Moonlight Co Sold merchandise on account to Quinn Co., $16,100 with terms n/15. The cost of the merchandise sold was $9,440 Paid Moonlight Co. on account for purchase of November 3, less return of November 6 Sold merchandise on VISA, $226,120. The cost of the merchandise sold was $135,430 Paid Papoose Creek Co. on account for purchase of November 5 Received cash on account from sale of November 8 to Quinn Co Sold merchandise on account to Rabel Co., $60,700, terms 1/10, n/30. The cost of the merchandise sold was S33,120 Paid VISA service fee of $3,580 Paid Quinn Co. a cash refund of $6,420 for returned merchandise from sale of November 8. The cost of the returned merchandise was $3,010 4 5 6 8 13 14 15 23 24 28 30 Check My Work 2 more Check My Work uses remaining Previous Assignment Score: 34.59% All work saved Email InstructorSave and Exit Submit Assignment for Grading